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Jet looking out for PE investors for JetLite

 

Jet Airways, planning to launch the JetLite brand from mid-July 2007, is scouting for new investors, reports NDTV.

Jet Airways after acquiring Air Sahara converted the airliner into a low-cost carrier under the brand JetLite.

It is said that Temasek, Istithmar and TPG are the front runners to bag the deal. Jet may be willing to divest up to 25% stake in the airline and needs more than Rs 2 billion to revive the airline.

At present, of the 24 aircraft Air Sahara has, only 17 are flying.

Jet will have to convince investors about the feasibility of the model it has chosen for JetLite, i.e between a no frill carrier and a full service operator.
Source : My Iris

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